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Associated Press • Saturday December 1, 2012 5:14 AM

INDIANAPOLIS — An Indiana financier and former chief executive of
National Lampoon convicted of swindling investors out of about $200 million was sentenced
yesterday to 50 years in prison by a judge who told him his “deceit, greed and arrogance” had cost
many of his victims their life savings and dreams of a comfortable retirement.

U.S. District Judge Jane Magnus-Stinson said Timothy Durham had violated the trust of thousands
of small investors from the Midwest who had entrusted their money to him.

She said in court that Durham had plundered their money so he could live a luxurious
lifestyle.

“We drive Chevys and Buicks and Fords, not Ducatis. That’s how most of us roll,” Magnus-Stinson
said. “When they’re defrauded, it is the most-serious offense because it undermines the fabric of
this country.”

Durham said he felt “badly” for all the families who lost their savings, but he never admitted
wrongdoing.

A jury in June convicted Durham on 10 counts of wire fraud. Durham, who has been a major Indiana
Republican Party donor, resigned his post at
National Lampoon in January.